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Financial Institution Letters

Regulatory Relief
Guidance to Help Financial Institutions and to Facilitate Recovery in Areas of Indiana Affected by Severe Storms and Flooding
FIL-50-2008
June 17, 2008


Summary: The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Indiana affected by recent severe storms and flooding.

Highlights:

  • Severe storms and flooding have caused significant property damage to areas of Indiana.
  • Individual disaster assistance is available in the Indiana counties of Bartholomew, Hancock, Johnson, Marion, Monroe, Morgan, Vermillion, and Vigo Counties. Other counties are eligible for public assistance.
  • The FDIC is encouraging financial institutions to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by these disasters.
  • Extending repayment terms, restructuring existing loans or easing terms for new loans, if done in a manner consistent with sound banking practices, can contribute to the health of the community and serve the long-term interests of the lending institution.
  • The FDIC will also consider regulatory relief from certain filing and publishing requirements for banks in the affected areas.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)
in Indiana

Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer

Related Topics:
Lending
Investments
Publishing Requirements
Consumer Laws

Attachment:
Supervisory Practices Regarding Depository
Institutions and Borrowers Affected by Severe
Storms and Flooding in Indiana

Contact:
Assistant Regional Director Javier S. Serna at
(312) 382-7520 or jserna@fdic.gov

Printable Format:
FIL-50-2008 (PDF Help)

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2008/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562- 2200).




Last Updated 6/17/2008 communications@fdic.gov